7592 stories by Devin O'Connor
MGM Resorts and Caesars Entertainment Continue Merger Talks, Alignment Would Create $50B Company
MGM Resorts and Caesars Entertainment are reportedly continuing their discussions on potentially merging the two casino giants. Talking with sources close to the negotiations, New York Post journalist Josh Kosman says there is no formal offer on the table. However, MGM has...
Atlantic City Credit Rating Upgraded, But Remains Below Investment Grade
Atlantic City's long-term issuer credit rating is being upgraded by Moody's Investors Services from Caa3 to B2. While that's good news for the region, the new classification is a mark that still ranks below "investment grade." Moody's defines B2 as "being speculative...
Seminole Tribe Gives $1M More to Committee Urging Floridians to Approve Casino Ballot Question Next Week
The Seminole Tribe in Florida has given another $1 million to Voters in Charge, a committee that's hoping voters will back a casino ballot referendum question next week during the midterm elections. Come Tuesday, November 6, Floridians will be asked whether they...
Philippine Casinos Would Benefit From Better Airport Infrastructure
Casinos in the Philippines would benefit with more resilient VIP high roller play if the country invested in improving its airport facilities, a research note opines this week. Japanese financial services firm Nomura Holdings says in a note this week that the...
Gaming Analyst Says Domestic Casino Stocks Present Buying Opportunities, Cautiously Optimistic on Macau
Jefferies gaming analyst David Katz is bullish on domestic casino stocks that he feels have been oversold this past year and are now cheap and ripe for the taking. Appearing on CNBC, Katz believes the gaming industry, especially in the US, presents...
Caesars Entertainment Posts Q3 Profit, Investors Bullish on Company Future
Caesars Entertainment reported Thursday that revenues totaled $2.19 billion in the third quarter, and net income was $110 million, or 14 cents per share. A year ago, the 3Q saw investors lose $2.90 a share on a net loss of $433 million....
Churchill Downs Expands Casino Holdings, Will Pay Up to $500M for Rivers Casino Near Chicago
Churchill Downs Incorporated (CDI) will pay up to $500 million to acquire a majority stake in the Rivers Casino in the Chicago suburb of Des Plaines. Illinois' most lucrative riverboat, Rivers is currently owned by the Clairvest Group Inc, a subsidiary of...
Caesars Entertainment Scores Partnership Deal With Las Vegas Raiders Stadium
Caesars Entertainment has reached the first partnership with the under-construction $1.8 billion Las Vegas football stadium that will become the home of the NFL Raiders for the start of the 2020 season. In a press release, Raiders President Marc Badain says it's...
Macau Gaming Revenue Hits Four-Year High, Win Totals $3.38B
Macau casinos won 27.3 billion patacas ($3.38 billion) in October, a 2.6 percent year-over-year gain. It's the highest monthly gross gaming revenue (GGR) haul in four years. Last month was the industry's highest GGR mark since October 2014 when the region won...
Oracle Billionaire Larry Ellison Intends to Reopen Cal Neva as Five-Star Casino Resort
If you thought billionaire Larry Ellison was going to scrimp on the next chapter of the historic Cal Neva casino resort, think again. The Oracle founder has told the Lake Tahoe Regional Planning Agency that the idea is to bring the Lake...
